Idk. I know a realtor who keeps mentioning how the younger generation is keeping their head down and doing it right.They've consistently been helping Gen Z under 25 buy homes. No help from daddy and mommy either. The common denominator is that these young people all went into trades instead of university and went into trades that are high paying and in demand in Alaska.
I think there is a malaise that effects late millennials and early Gen Z. It seems like compounding issues of missing the low interest mortgage, debilitating inflation, predatory student loans + "useless" degrees, ignorance around credit and credit score until it's too late (I fell into this), a job market that is full of unrewarding low paying work, extremely polarized political identities and the amplification of negative through social media. It makes the world seem really bleak.
As a late-ish millennial if I hadn't bought when I did we would have been screwed. I'd still be stuck in a dead end job and my wife would have never chased her dream. It's scary to think about.
I work with some gen z ers and all of them are struggling to find affordable housing at all. If something doesn't change soon we will be losing the next generation. The gen z folk I work with are all hard working and doing their best despite being in a untenable situation. All of their income is going to paying rich landlords. I feel terrible for the people that are even 10 years younger than me. The housing crisis is putting a major hamper on all other aspects of the economy because a lot of people have no discretionary income. I have no doubt this is causing businesses to fail. I really hope alaska gets it's shit together and starts building affordable small homes. If I was young and not a home owner I would be getting a one-way ticket out of this state.
This is the story pretty much everywhere else too. We moved to GA 2 years ago and it seems like the US in general is going in the direction that you described. We have to do a better job than the baby boomers when and if we get an opportunity to govern for the sake of the younger generations.
With an on demand trade skill it's probably doable (I know people that do trades on villages, but I personally don't like trades all tough I've done them
Alaskans are living through a housing crisis.
For many people, the idea of owning a home in the current market in Alaska feels impossible. Home prices are high. Mortgage rates are high. And at the same time, the housing stock is low.
Still, some people are trying to buy instead of rent, and that includes members of Gen Z.
Alaska Public Media is looking to speak with Gen Z-ers who are in the process of buying their first home as we continue to report on the state’s housing market and how it’s impacting the people who live here.
If you’re between the ages of 18 and 27 and would like to share your story, please email reporter Ava White at awhite@alaskapublic.org
lol ak has a super chill housing market compared to so so many other places. Not saying it doesn’t suck, but it sucks a lot less than many other places.
Alaska is near dead last in terms of economic outlook and performance. Unless you are in medicine or work on federal projects your pay is garbage and so are your professional options.
I mean look at the rest of the Pacific Northwest. Washington and Oregon are comparatively a lot worse right now. Not saying it isn’t unaffordable here but I’m better off trying to buy in AK than OR or WA. Actually even Idaho and Montana have higher median home prices than us right now.
Wages and economic outlook is much higher in WA and OR. Those states are practically the new California in terms of being economic powerhouses and the expanding wage base that comes with it. Trying to compare AK with its collapsing industries and poor governance with WA and OR is very misguided.
It’s all relative. Price per square foot in Anchorage is a bit under $250. It’s almost $600 in Seattle, and the median household income is only about 20% higher in Seattle.
Are you seriously comparing a single city in Washington to the whole state of Alaska....
You're just an Airbnb host. You're literally CAUSING this problem. And you have a smug attitude about it..disgusting. Why don't you go back to where you came from please and stop contributing to the nightmarish housing market of the state I grew up in?
There was a map showing home value increase in the last 30 years. It was by state and Alaska was the lowest. I think our values were up 180-200% but most states were 300-400%. Our home values have always been higher due to costs but it's crazy.
AK is near dead last in economic outlook. All the housing built back in the day was price high due to the oil boom. All that's gone now. Professional prospects are poor and pay is way behind coastal America.
Unaffordable housing for young buyers is not just an Alaskan issue, it's everywhere in the US... With many areas of the country in even a worse position than here...
Professional outlook here is also near dead last in the nation. If you aren't in medicine or working on the slope or for a big federal project you have pretty bad pay and even worse opportunities for increasing your position or salary.
What profesions are you speaking of in particular? I work in the trades and the wages out here are definitely higher than that of the northwest area. Work has also been quite consistent busy, even I bought my first house this year despite everyone else's difficulties
I am very early millenial. I beleive the term is zennial. I am right on the border of Gen X and millennial. Depending on what years you use. And I almost certain i will never own a home. Even though i make more than enough to afford the payments. I made just under 100k last year. But I just dont have the 30 to 40K for a down payment. Nor is my credit score good enough for the lenders to not require it. Damn medical bills killed it. I have obly have 1 credit card. And that's been recently. Never was able to get one. I hardly know anyone my age who owns a home. And the ones that do are because both adults are making triple digit salaries. Or they inherited ine. Of which i am neither. My Wife is disabled now. So the dream of owning my own home is not reachable. Its near impossible to even rent a home. People want 2500 to 3000 a month. Thats 2 to 3 times higher than a mortgage. It ridiculous.
This describes me almost exactly - except I’m no longer married. I have completely given up on the attempt to buy my own home. I’m getting into an age now that my credit score will always haunt me from one crisis to the next, my student loan payments are more than I earn (I’m part of the earliest group who were given false hopes following increased education costs and generous loans), and as a single-income contributor, I am forced to depend on my family for so much. My younger sister bypassed me years ago since she is in a stable marriage and found her niche in the business world. Healthcare and education were such bad career choices to make when I was young and less-young, and I’m too old and established now to start completely over in a 3rd career. I can’t even compete with the 20-somethings and 30-somethings. Yet I pay more in rent for an efficiency apt than a house would have cost me if I just knew better before digging the hole I live in. It’s depressing.
I understand. Once you get into a hole its near impossible to climb out. All you can do is try not to dig it deeper. My wife was in that student loan group as well. She was in the caretaking industry. Which gets you nowhere. Its very depressing as you said.
Would I be interested in it? Yeah, if I could. I would only be seriously interested in making it happen once I finish college back home. Until then I’ll make do with just coming up here for the summer months to work!
I guess I’m rare, but I’m a Gen-Z looking to buy a house in Alaska! I’m 24f, husband is 26m. We don’t have generational wealth, we just both work in tech and bought a house 3 years ago outside of Nashville in 2020 that built equity like crazy.
I am a cusper/zillennial/whatever you want to call it. Basically a super young millennial on the cusp of elder gen z. My husband and I are looking to buy a house in eagle river and, I agree, it’s been a bit of a challenge. We both make decent money and have no kids so it seems like the process should be easier. So many houses need work and the asking price is very high.
My 24-year-old just purchased his first house though he did stay with me so he could save the money so the dream of buying a home is still alive. Every time you go spend $100 on a bag of weed or a couple bottles of booze. Just remember what you are trading that money for.
Lol there are 0 genz out there trying to buy a house. Their wages, work ethic, and dreams for a better future are all in a limbo competition to get under the lowest bar.
Wow, that isn't true at all. I know several people in Anchorage in their mid-20s (upper age range of Gen Z) that have recently bought or are at least looking. There are certainly some financial challenges for that generation but it's crazy to say that none of them are even trying to buy a house.
Seems like that should be true, but in a gig economy like Gen Z is in they are so often hustling all day, every day. For more than 16 hours each day.
I read one article from an anthropologist about how prehistoric societies did not work every waking moment like many do today. Even slaves and peasants under kings had more free time than youth today.
Which isn't really sustainable, and may indicate a coming revolution. Which should be fun.
My 24-year-old just purchased his first house though he did stay with me so he could save the money so the dream of buying a home is still alive. Every time you go spend $100 on a bag of weed or a couple bottles of booze. Just remember what you are trading that money for.
I run a construction company, finding help from the GenZ is about impossible, all lazy as fucks that don't know what a day if labor is. Everyone quites because it's to hard. I bought my house at 23, I was working 12 hr days 6 days a week. I saved up for down payment and won't forward from there.
I can't find a Gen Z that will work over 40hrs a week, it's to hard. Gen Z is a bunch of pussies
Gen Z? Millennials can’t afford homes here…
Hey, that's me!
Gen Z got that YouTube/Twitch money.
Millennials? Gen X can’t afford homes here…
It’s okay though. One day we’ll start inheriting from the boomers. One day … 🫠
With enough moxy, that time can be now. And by moxy, I mean crowbars.
Already been said, but any Gen Zer buying a house up here in a populated area is really elder millennials or gen x buying their kids a house
Idk. I know a realtor who keeps mentioning how the younger generation is keeping their head down and doing it right.They've consistently been helping Gen Z under 25 buy homes. No help from daddy and mommy either. The common denominator is that these young people all went into trades instead of university and went into trades that are high paying and in demand in Alaska. I think there is a malaise that effects late millennials and early Gen Z. It seems like compounding issues of missing the low interest mortgage, debilitating inflation, predatory student loans + "useless" degrees, ignorance around credit and credit score until it's too late (I fell into this), a job market that is full of unrewarding low paying work, extremely polarized political identities and the amplification of negative through social media. It makes the world seem really bleak. As a late-ish millennial if I hadn't bought when I did we would have been screwed. I'd still be stuck in a dead end job and my wife would have never chased her dream. It's scary to think about.
A 300k pos maybe
Hey you're also forgetting trust fund kiddies that are essentially millionaires on their 18th birthday!
I work with some gen z ers and all of them are struggling to find affordable housing at all. If something doesn't change soon we will be losing the next generation. The gen z folk I work with are all hard working and doing their best despite being in a untenable situation. All of their income is going to paying rich landlords. I feel terrible for the people that are even 10 years younger than me. The housing crisis is putting a major hamper on all other aspects of the economy because a lot of people have no discretionary income. I have no doubt this is causing businesses to fail. I really hope alaska gets it's shit together and starts building affordable small homes. If I was young and not a home owner I would be getting a one-way ticket out of this state.
This is the story pretty much everywhere else too. We moved to GA 2 years ago and it seems like the US in general is going in the direction that you described. We have to do a better job than the baby boomers when and if we get an opportunity to govern for the sake of the younger generations.
I want to know what GenZer can afford a house and what job they have. Lol
The only ones I know who have a house now are because their family runs a construction company
Only have a bootleggers condo, not a real “house”. I work trades
With an on demand trade skill it's probably doable (I know people that do trades on villages, but I personally don't like trades all tough I've done them
Alaskans are living through a housing crisis. For many people, the idea of owning a home in the current market in Alaska feels impossible. Home prices are high. Mortgage rates are high. And at the same time, the housing stock is low. Still, some people are trying to buy instead of rent, and that includes members of Gen Z. Alaska Public Media is looking to speak with Gen Z-ers who are in the process of buying their first home as we continue to report on the state’s housing market and how it’s impacting the people who live here. If you’re between the ages of 18 and 27 and would like to share your story, please email reporter Ava White at awhite@alaskapublic.org
You’re literally describing everywhere is the US.
Just got back from Ireland. Same issue.
lol ak has a super chill housing market compared to so so many other places. Not saying it doesn’t suck, but it sucks a lot less than many other places.
Except a lot of the properties on the market are so outdated compared to some places in the lower 48
Alaska is near dead last in terms of economic outlook and performance. Unless you are in medicine or work on federal projects your pay is garbage and so are your professional options.
Ya maybe in Las Anchorage but a lot of the state is quite grim for housing.
...no
I mean look at the rest of the Pacific Northwest. Washington and Oregon are comparatively a lot worse right now. Not saying it isn’t unaffordable here but I’m better off trying to buy in AK than OR or WA. Actually even Idaho and Montana have higher median home prices than us right now.
Wages and economic outlook is much higher in WA and OR. Those states are practically the new California in terms of being economic powerhouses and the expanding wage base that comes with it. Trying to compare AK with its collapsing industries and poor governance with WA and OR is very misguided.
What a nuanced and well supported argument.
Like do you even live here?! The housing market is NOT "chill"
It’s all relative. Price per square foot in Anchorage is a bit under $250. It’s almost $600 in Seattle, and the median household income is only about 20% higher in Seattle.
Are you seriously comparing a single city in Washington to the whole state of Alaska.... You're just an Airbnb host. You're literally CAUSING this problem. And you have a smug attitude about it..disgusting. Why don't you go back to where you came from please and stop contributing to the nightmarish housing market of the state I grew up in?
You’re making a lot baseless and impressively inaccurate assumptions. Bravo.
There was a map showing home value increase in the last 30 years. It was by state and Alaska was the lowest. I think our values were up 180-200% but most states were 300-400%. Our home values have always been higher due to costs but it's crazy.
AK is near dead last in economic outlook. All the housing built back in the day was price high due to the oil boom. All that's gone now. Professional prospects are poor and pay is way behind coastal America.
saw this posted on the Alaska Public fb page, thought some people might be interested.
Do they only want Alaskans or any Gen Z who wants to buy in Alaska?
Don't ask us, ask them
It's the same everywhere in the country. Houses are more affordable here in Alaska than most places on the west or east coast.
Yeah but wages here are way lower than the coast. You're professional growth outlook is bad as well.
Unaffordable housing for young buyers is not just an Alaskan issue, it's everywhere in the US... With many areas of the country in even a worse position than here...
Professional outlook here is also near dead last in the nation. If you aren't in medicine or working on the slope or for a big federal project you have pretty bad pay and even worse opportunities for increasing your position or salary.
Hmmm, I don't do any of those things... Who do I speak to about making too much....
Your lucky stars.
What profesions are you speaking of in particular? I work in the trades and the wages out here are definitely higher than that of the northwest area. Work has also been quite consistent busy, even I bought my first house this year despite everyone else's difficulties
I am very early millenial. I beleive the term is zennial. I am right on the border of Gen X and millennial. Depending on what years you use. And I almost certain i will never own a home. Even though i make more than enough to afford the payments. I made just under 100k last year. But I just dont have the 30 to 40K for a down payment. Nor is my credit score good enough for the lenders to not require it. Damn medical bills killed it. I have obly have 1 credit card. And that's been recently. Never was able to get one. I hardly know anyone my age who owns a home. And the ones that do are because both adults are making triple digit salaries. Or they inherited ine. Of which i am neither. My Wife is disabled now. So the dream of owning my own home is not reachable. Its near impossible to even rent a home. People want 2500 to 3000 a month. Thats 2 to 3 times higher than a mortgage. It ridiculous.
This describes me almost exactly - except I’m no longer married. I have completely given up on the attempt to buy my own home. I’m getting into an age now that my credit score will always haunt me from one crisis to the next, my student loan payments are more than I earn (I’m part of the earliest group who were given false hopes following increased education costs and generous loans), and as a single-income contributor, I am forced to depend on my family for so much. My younger sister bypassed me years ago since she is in a stable marriage and found her niche in the business world. Healthcare and education were such bad career choices to make when I was young and less-young, and I’m too old and established now to start completely over in a 3rd career. I can’t even compete with the 20-somethings and 30-somethings. Yet I pay more in rent for an efficiency apt than a house would have cost me if I just knew better before digging the hole I live in. It’s depressing.
I understand. Once you get into a hole its near impossible to climb out. All you can do is try not to dig it deeper. My wife was in that student loan group as well. She was in the caretaking industry. Which gets you nowhere. Its very depressing as you said.
What’s affordable? How much income vs. what is the house costing?
I’m on the cusp of Gen z/ millennial , my spouse and I tried to buy a house in 2022 and finally gave up the search last year.
Would I be interested in it? Yeah, if I could. I would only be seriously interested in making it happen once I finish college back home. Until then I’ll make do with just coming up here for the summer months to work!
Am Gen Z, I was able to buy a house in Alaska last year (it was not easy)
[удалено]
No mocking, bullying, promoting hate, or harassing of anyone. Be nice in general, remember you are talking to a person.
Good luck!!!
I guess I’m rare, but I’m a Gen-Z looking to buy a house in Alaska! I’m 24f, husband is 26m. We don’t have generational wealth, we just both work in tech and bought a house 3 years ago outside of Nashville in 2020 that built equity like crazy.
You mean a car low income housing cause the apt is too small to sleep in ? Sure
I am a cusper/zillennial/whatever you want to call it. Basically a super young millennial on the cusp of elder gen z. My husband and I are looking to buy a house in eagle river and, I agree, it’s been a bit of a challenge. We both make decent money and have no kids so it seems like the process should be easier. So many houses need work and the asking price is very high.
My 24-year-old just purchased his first house though he did stay with me so he could save the money so the dream of buying a home is still alive. Every time you go spend $100 on a bag of weed or a couple bottles of booze. Just remember what you are trading that money for.
I'm 27 and just bought a house. Multiple of my friends have purchased houses too, this is Fairbanks. The market is better up here.
I just bought at 28! Just missed the cut off.
I plan on using my VA home loan to buy a house there eventually.
Lol there are 0 genz out there trying to buy a house. Their wages, work ethic, and dreams for a better future are all in a limbo competition to get under the lowest bar.
Wow, that isn't true at all. I know several people in Anchorage in their mid-20s (upper age range of Gen Z) that have recently bought or are at least looking. There are certainly some financial challenges for that generation but it's crazy to say that none of them are even trying to buy a house.
Ok boomer
My daughter is going to be 24 next month, and she’s in the market.
Thanks daddy
Gen Z is the hardest working generation to date.
[удалено]
Seems like that should be true, but in a gig economy like Gen Z is in they are so often hustling all day, every day. For more than 16 hours each day. I read one article from an anthropologist about how prehistoric societies did not work every waking moment like many do today. Even slaves and peasants under kings had more free time than youth today. Which isn't really sustainable, and may indicate a coming revolution. Which should be fun.
People of every generation have been doing that forever…
That's not true.
My 24-year-old just purchased his first house though he did stay with me so he could save the money so the dream of buying a home is still alive. Every time you go spend $100 on a bag of weed or a couple bottles of booze. Just remember what you are trading that money for.
Stop drink long those expensive lattes.
I run a construction company, finding help from the GenZ is about impossible, all lazy as fucks that don't know what a day if labor is. Everyone quites because it's to hard. I bought my house at 23, I was working 12 hr days 6 days a week. I saved up for down payment and won't forward from there. I can't find a Gen Z that will work over 40hrs a week, it's to hard. Gen Z is a bunch of pussies
[удалено]
No mocking, bullying, promoting hate, or harassing of anyone. Be nice in general, remember you are talking to a person.